HomeAway’s CEO Talks IPOs & Airbnb’s Valuation
It’s been a heckuva year for Texas entrepreneur Brian Sharples. In February, the HomeAway Chief Executive had to navigate his company through a public outrage that erupted after the vacation-home rental company’s Super Bowl ad jokingly showed a baby flying through the air and smashing against a glass wall.
Many viewers didn’t take well to the image, causing Sharples to issue a 1,000-word apology letter and pull the campaign. (The company is currently shopping for a new advertising firm).
This all occurred just four months before the company issued an initial public offering. Fortunately, for Sharples (and the company’s venture investors) that event was a bigger hit than the Super Bowl commercial. HomeAway’s stock closed at $40.21 on Nasdaq, up 48.9 percent from its IPO price of $27. Shares have since hovered around $35.
